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Mcewen Mining Inc

www: www.mcewenmining.com   email: info@mcewenmining.com
Category: Mid-tier Producer
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Symbol Data

Symbol Currency
NYSE:MUX USD
TSE:MUX CAD

Description

Mcewen Mining Inc are a gold focused mid-tier producer with three producing mines in Argentina, Canada and Mexico, one mine in development in USA and one exploration property. Currently they produce roughly 150koz. of gold per year. They have approximately 7.5Moz. of gold in the reserves and resources category of which 6Moz. are in the measured and indicated category. They have a market capitalisation of ~$401.88M which is a rise of roughly 10% over the last three weeks. As of 03/02/2023 they have ~$40M debt and ~$11M cash. They have 47M shares outstanding and trade on the New York Stock Exchange and the Toronto Stock Exchange.

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General Details

Financial 03/02/2023
Last
Analysis
Data

Current Data

Change
Item Value Value Updated Value
Mkt. Cap (FD): $364.65M $401.88M 03/02/2023 $37.23M
Total Assets: $500.00M $500.00M 03/02/2023 $0.00M
Total Liabilities: $125.00M $125.00M 03/02/2023 $0.00M
Current Assets: $17.00M $17.00M 03/02/2023 $0.00M
Current Liabilities: $36.00M $36.00M 03/02/2023 $0.00M
Total Debt: $40.00M $40.00M 03/02/2023 $0.00M
Cash: $11.00M $11.00M 03/02/2023 $0.00M
Enterprise Value: $393.65M $430.88M 08/27/1983 $37.23M
Cash Flow: $8.59M $23.96M never $15.37M
Cash Flow Multiple: 42.46 16.77 never -25.68
Net Debt to
Cash Flow Ratio:
3.38 1.21 never -2.17
Finance within 1 year: 03/02/2023 n/a
Tax Rate: (guess)  30.00% (default)  30.00% 03/02/2023 0.00%
Misc 03/02/2023
Last
Analysis
Data

Current Data

Change
Item Value Value Updated Value
Shares Outstanding: 47,000,000 47,000,000 03/02/2023 0
Shares (FD): 51,000,000 51,000,000 03/02/2023 0
Insider Ownership: n/a 20% 03/02/2023 20%
Company Type: Mostly Gold Mostly Gold never n/a
Production ETA: n/a n/a 03/02/2023 n/a
Production (Gold Eq Oz.): (guess) 
150,000
(guess) 
150,000
03/02/2023 0
Production (Silver Eq Oz.): (guess) 
13,191,071
(guess) 
12,790,086
03/02/2023 -400,984
Initial CapEx (Outstanding): n/a n/a 03/02/2023 n/a
Funding Option: n/a n/a 03/02/2023 n/a
Documentation: none PRODUCER 03/02/2023 n/a
Value Adjustment: -35% -35% never 0%

Resource Data

GOLD 03/02/2023
Last Analysis
Data

Current Data

Change
Item Value Value Updated Value
O
U
N
C
E
S
T
O
T
A
L
Proven & Probable: 1.20M 1.20M 03/02/2023 0.00M
Measured & Indicated: 6.00M 6.00M 03/02/2023 0.00M
Inferred: 1.50M 1.50M 03/02/2023 0.00M
Reserves & Resources: 7.50M 7.50M never 0.00M
P
L
A
U
S
I
B
L
E
Proven & Probable: 0.96M 0.96M 03/02/2023 0.00M
Measured & Indicated: 4.03M 4.03M 03/02/2023 0.00M
Inferred: 0.60M 0.60M 03/02/2023 0.00M
Reserves & Resources: 4.63M 4.63M never 0.00M
C
U
R
R
E
N
T
Annual Production: (guess) 
150,000oz.
(guess) 
150,000oz.
03/02/2023 0oz.
Cash Cost: $1,250 $1,250 03/02/2023 $0.00
Extra Operating Cost: $500 $500 03/02/2023 $0.00
Average Grade: 1.00 g/t 1.00 g/t 03/02/2023 n/a
Recovery Rate: (CG)  80.00% (CG)  80.00% 03/02/2023 0.00%
F
U
T
U
R
E
Proven & Probable: 6.00M 6.00M 03/02/2023 0.00M
Annual Production: 200,000oz. 200,000oz. 03/02/2023 0oz.
Cash Cost: $1,200 $1,200 03/02/2023 $0
Extra Operating Cost: $500 $500 03/02/2023 $0
SILVER 03/02/2023
Last Analysis
Data

Current Data

Change
Item Value Value Updated Value
O
U
N
C
E
S
T
O
T
A
L
Proven & Probable: n/a n/a 03/02/2023 0.00M
Measured & Indicated: n/a n/a 03/02/2023 0.00M
Inferred: n/a n/a 03/02/2023 0.00M
Reserves & Resources: n/a n/a never 0.00M
P
L
A
U
S
I
B
L
E
Proven & Probable: n/a n/a 03/02/2023 0.00M
Measured & Indicated: n/a n/a 03/02/2023 0.00M
Inferred: n/a n/a 03/02/2023 0.00M
Reserves & Resources: n/a n/a never 0.00M
C
U
R
R
E
N
T
Annual Production: n/a n/a 0oz.
Cash Cost: n/a n/a 03/02/2023 $0.00
Extra Operating Cost: n/a n/a 03/02/2023 $0.00
Average Grade: n/a n/a 03/02/2023 n/a
Recovery Rate: n/a n/a 03/02/2023 0.00%
F
U
T
U
R
E
Proven & Probable: n/a n/a 03/02/2023 0.00M
Annual Production: n/a n/a 03/02/2023 n/a
Cash Cost: n/a n/a 03/02/2023 n/a
Extra Operating Cost: n/a n/a 03/02/2023 n/a

Property

Last Analysis Data  (03/02/2023)
Stage Location Name Owned Size (Ha) Type Au Ag Cu Notes
Production Argentina San Jose 49% n/a n/a n/a
Production Ontario, Canada Black Fox / Grey Fox 100% (guess) n/a Underground show
2.3 million oz.

Acquired from Primero.
Production Sinaloa State, Mexico El Gallo Gold 100% 200,000 Open Pit show
Very large property. One producing mine and two more under development. 9 discoveries.
Exploration Sinaloa State, Mexico El Gallo 2 - Silver 100% n/a n/a show
Developing.

6 million oz of silver annually.

$150 million capex.
Development Nevada, USA Gold Bar 100% n/a n/a show
Currently permitting.

Planning to produce 50,000 oz per year.
Total Land Package Size (ha): 200,000  
Current Data
Stage Location Name Owned Size (Ha) Type Au Ag Cu Notes
Production Argentina San Jose 49% n/a n/a n/a
Production Ontario, Canada Black Fox / Grey Fox 100% (guess) n/a Underground show
2.3 million oz.

Acquired from Primero.
Production Sinaloa State, Mexico El Gallo Gold 100% 200,000 Open Pit show
Very large property. One producing mine and two more under development. 9 discoveries.
Exploration Sinaloa State, Mexico El Gallo 2 - Silver 100% n/a n/a show
Developing.

6 million oz of silver annually.

$150 million capex.
Development Nevada, USA Gold Bar 100% n/a n/a show
Currently permitting.

Planning to produce 50,000 oz per year.
Total Land Package Size (ha): 200,000  

Profitability (by resource)

Proven &
Probable
03/02/2023
Last Analysis
Data

Current Data

Change
Item Value Value Updated Value
Percentage Gold: 100.00% 100.00% n/a 0.00%
Percentage Silver: n/a n/a n/a 0.00%
Total (Gold Eq. Oz.): 1.20M 1.20M n/a 0.00M
Total (Silver Eq. Oz.): n/a n/a n/a -3.21M
P

L

A

U

S

I

B

L

E
Gold Eq. Oz.: 0.96M 0.96M n/a 0.00M
Silver Eq. Oz.: n/a n/a n/a -2.57M
Maximum Profit (Gold): $35.73M $99.68M n/a $63.95M
Maximum Profit (Silver): n/a n/a n/a $0.00M
Total Maximum Profit: $35.73M $99.68M n/a $63.95M
Max Profit / Current MCap: 0.098 0.248 n/a 0.150
Max Profit Per Share (Gold): $0.70 $1.95 n/a $1.25
Max Profit Per Share (Silver): n/a n/a n/a $0.00
Total Max Profit Per Share: $0.70 $1.95 n/a $1.25
Total Free Profit Per Share: $0.00 $0.00 n/a $0.00
FD Mkt. Cap / Gold Eq.: $379.84 $418.63 n/a $38.78
FD Mkt. Cap / Silver Eq.: $4.32 $4.91 n/a $0.59
FD Mkt. Cap / Per Metal
as % Spot Price:
20.74% 21.16% n/a 0.43%
Measured &
Indicated
03/02/2023
Last Analysis
Data

Current Data

Change
Item Value Value Updated Value
Percentage Gold: 100.00% 100.00% n/a 0.00%
Percentage Silver: n/a n/a n/a 0.00%
Total (Gold Eq. Oz.): 6.00M 6.00M n/a 0.00M
Total (Silver Eq. Oz.): n/a n/a n/a -16.04M
P

L

A

U

S

I

B

L

E
Gold Eq. Oz.: 4.03M 4.03M n/a 0.00M
Silver Eq. Oz.: n/a n/a n/a -10.78M
Maximum Profit (Gold): $150.07M $418.65M n/a $268.58M
Maximum Profit (Silver): n/a n/a n/a $0.00M
Total Maximum Profit: $150.07M $418.65M n/a $268.58M
Max Profit / Current MCap: 0.412 1.042 n/a 0.630
Max Profit Per Share (Gold): $2.94 $8.21 n/a $5.27
Max Profit Per Share (Silver): n/a n/a n/a $0.00
Total Max Profit Per Share: $2.94 $8.21 n/a $5.27
Total Free Profit Per Share: $0.00 $0.33 n/a $0.33
FD Mkt. Cap / Gold Eq.: $90.44 $99.67 n/a $9.23
FD Mkt. Cap / Silver Eq.: $1.03 $1.17 n/a $0.14
FD Mkt. Cap / Per Metal
as % Spot Price:
4.94% 5.04% n/a 0.10%

Reserves &
Resources
03/02/2023
Last Analysis
Data

Current Data

Change
Item Value Value Updated Value
Percentage Gold: 100.00% 100.00% n/a 0.00%
Percentage Silver: n/a n/a n/a 0.00%
Total (Gold Eq. Oz.): 7.50M 7.50M n/a 0.00M
Total (Silver Eq. Oz.): n/a n/a n/a -20.05M
P

L

A

U

S

I

B

L

E
Gold Eq. Oz.: 4.63M 4.63M n/a 0.00M
Silver Eq. Oz.: n/a n/a n/a -12.38M
Maximum Profit (Gold): $172.40M $480.95M n/a $308.55M
Maximum Profit (Silver): n/a n/a n/a $0.00M
Total Maximum Profit: $172.40M $480.95M n/a $308.55M
Max Profit / Current MCap: 0.473 1.197 n/a 0.724
Max Profit Per Share (Gold): $3.38 $9.43 n/a $6.05
Max Profit Per Share (Silver): n/a n/a n/a $0.00
Total Max Profit Per Share: $3.38 $9.43 n/a $6.05
Total Free Profit Per Share: $0.00 $1.55 n/a $1.55
FD Mkt. Cap / Gold Eq.: $78.72 $86.76 n/a $8.04
FD Mkt. Cap / Silver Eq.: $0.90 $1.02 n/a $0.12
FD Mkt. Cap / Per Metal
as % Spot Price:
4.30% 4.39% n/a 0.09%

Future Valuation (Cash Flow & Totals)

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